Apple now rules the world of business, after it broke many records this week. Today, Apple is worth $1.84 trillion. But that comes with a burden to the man – Tim Cook – who has taken Apple to the mountaintop. Mr Cook has cooked something so amazing that Wall Street is eating and loving it. Yes, he has prepared a special Apple, and they paid to eat, and are eating more. Today, Apple is the most expensive “apple” in the world, and the wonders of a nation called America.
Yet, Mr. Cook has to go back to the drawing board because this success is a burden across many metrics. The good news is that he knows that: “We’re conscious of the fact that these results stand in stark relief during a time of real economic adversity. We do not have a zero sum approach to prosperity and especially in times like this we’re focused on growing the pie, making sure our success isn’t just our success”.
Unbelievable in a time when the world is largely broken! Respect the brilliance of America. Next two more quarters, Apple could be hitting $2 trillion. Congrats Apple.
Apple has toppled Saudi Aramco as the world’s most valuable company after its stock hit a record high on Friday, smashing Wall Street’s expectations.
Apple stock went up $412.22 a share, to put its market capitalization at $1.762 trillion to trump Saudi Aramco’s record.
According to data from Refinitiv, Saudi Aramco has held the position of most valuable public company since last year, and had a market capitalization of $1.760 trillion as of its last close.
Analysts had expected revenue to drop 2% to $52.6 billion on average. And earnings per share of $2.58, up 18%, crushed the average forecast of $2.07. But Apple’s 11% growth put its earnings at $59.7 billion for the second quarter.
Apple along other big US tech companies has shown resilience in the face of the COVID-19 pandemic that has brought economies to staggering point, including many publicly listed companies